The 2024 global security budgets have seen a modest growth, increasing from 6% in 2023 to 8%, reflecting a continued yet tempered investment in cybersecurity.
While two-thirds of CISOs reported increased budgets, a quarter faced a flat budget and 12% experienced declines, indicating mixed responses to economic pressures.
The growth in IT security spending is significant, rising from 8.6% in 2020 to 13.2% in 2024, indicating a robust shift towards prioritizing cybersecurity.
Sector-specific trends reveal that industries like legal, financial services, and tech are growing their security budgets, unlike business services and healthcare which faced declines.
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